Regulatory Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2021

The following table summarizes Cleco’s net regulatory assets and liabilities:


Cleco
(THOUSANDS)	AT MAR. 31, 2021		AT DEC. 31, 2020
Total Cleco Power regulatory assets, net	$	349,951	$	275,469
2016 Merger adjustments *
Fair value of long-term debt	117,703		119,553
Postretirement costs	14,915		15,411
Financing costs	7,506		7,592
Debt issuance costs	5,170		5,254
Total Cleco regulatory assets, net	$	495,245	$	423,279

* Cleco regulatory assets include acquisition accounting adjustments as a result of the 2016 Merger.

The following table summarizes Cleco Power’s regulatory assets and liabilities:


Cleco Power
(THOUSANDS)	AT MAR. 31, 2021		AT DEC. 31, 2020
Regulatory assets
Acadia Unit 1 acquisition costs	$	1,992	$	2,019
Accumulated deferred fuel	69,832		28,194
AFUDC equity gross-up *	68,896		69,670
AMI deferred revenue requirement	2,454		2,591
AROs	6,345		5,488
Coughlin transaction costs	869		876
COVID-19 executive order	2,953		2,953
Deferred storm restoration costs - Hurricane Delta	17,052		17,051
Deferred storm restoration costs - Hurricane Laura	54,744		54,406
Deferred storm restoration costs - Hurricane Zeta	3,613		3,493
Deferred storm restoration costs - Winter Storms Uri & Viola	1,938		—
Dolet Hills closure costs	70,192		48,982
Emergency declarations	131		270
Energy efficiency	2,703		2,820
Financing costs	7,091		7,184
Interest costs	3,646		3,708
Non-service cost of postretirement benefits	10,181		9,901
Other, net	4,682		4,229
Postretirement costs	160,674		165,437
Production operations and maintenance expenses	3,361		4,058
Rodemacher Unit 2 closure costs	2,722		1,333
St. Mary Clean Energy Center	5,219		3,479

Training costs	6,046		6,085
Tree trimming costs	11,129		11,807
Total regulatory assets	518,465		456,034
Regulatory liabilities
AFUDC	(4,574)		(4,218)
Corporate franchise tax, net	(1,133)		(763)
Deferred taxes, net	(162,807)		(175,584)
Total regulatory liabilities	(168,514)		(180,565)
Total regulatory assets, net	$	349,951	$	275,469
* Represents regulatory assets for past expenditures that were not earning a return on investment at March 31, 2021, and December 31, 2020, respectively. All other assets are earning a return on investment.

The following table summarizes Cleco Power’s regulatory assets and liabilities:


Cleco Power
(THOUSANDS)	AT MAR. 31, 2021		AT DEC. 31, 2020
Regulatory assets
Acadia Unit 1 acquisition costs	$	1,992	$	2,019
Accumulated deferred fuel	69,832		28,194
AFUDC equity gross-up *	68,896		69,670
AMI deferred revenue requirement	2,454		2,591
AROs	6,345		5,488
Coughlin transaction costs	869		876
COVID-19 executive order	2,953		2,953
Deferred storm restoration costs - Hurricane Delta	17,052		17,051
Deferred storm restoration costs - Hurricane Laura	54,744		54,406
Deferred storm restoration costs - Hurricane Zeta	3,613		3,493
Deferred storm restoration costs - Winter Storms Uri & Viola	1,938		—
Dolet Hills closure costs	70,192		48,982
Emergency declarations	131		270
Energy efficiency	2,703		2,820
Financing costs	7,091		7,184
Interest costs	3,646		3,708
Non-service cost of postretirement benefits	10,181		9,901
Other, net	4,682		4,229
Postretirement costs	160,674		165,437
Production operations and maintenance expenses	3,361		4,058
Rodemacher Unit 2 closure costs	2,722		1,333
St. Mary Clean Energy Center	5,219		3,479

Training costs	6,046		6,085
Tree trimming costs	11,129		11,807
Total regulatory assets	518,465		456,034
Regulatory liabilities
AFUDC	(4,574)		(4,218)
Corporate franchise tax, net	(1,133)		(763)
Deferred taxes, net	(162,807)		(175,584)
Total regulatory liabilities	(168,514)		(180,565)
Total regulatory assets, net	$	349,951	$	275,469
* Represents regulatory assets for past expenditures that were not earning a return on investment at March 31, 2021, and December 31, 2020, respectively. All other assets are earning a return on investment.